W.G. Shaheen & Associates DBA Whitney & Co Buys 27,577 Shares of Micron Technology, Inc. (NASDAQ:MU)

W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 59.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 74,177 shares of the semiconductor manufacturer's stock after acquiring an additional 27,577 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Micron Technology were worth $7,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 3.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 20,422 shares of the semiconductor manufacturer's stock worth $2,118,000 after purchasing an additional 752 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Micron Technology by 141.7% during the third quarter. Meeder Asset Management Inc. now owns 54,683 shares of the semiconductor manufacturer's stock valued at $5,671,000 after purchasing an additional 32,059 shares in the last quarter. OneAscent Financial Services LLC acquired a new stake in Micron Technology in the third quarter worth about $203,000. Whalen Wealth Management Inc. grew its position in Micron Technology by 147.6% in the 3rd quarter. Whalen Wealth Management Inc. now owns 7,962 shares of the semiconductor manufacturer's stock valued at $826,000 after buying an additional 4,746 shares in the last quarter. Finally, Belmont Capital LLC acquired a new position in Micron Technology during the 3rd quarter valued at about $519,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company's stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Up 0.4 %

Shares of Micron Technology stock traded up $0.36 on Tuesday, hitting $97.87. The company had a trading volume of 8,116,463 shares, compared to its average volume of 21,583,059. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a 50-day moving average of $101.55 and a 200-day moving average of $112.64. The firm has a market capitalization of $108.51 billion, a P/E ratio of 143.05 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) EPS. The business's revenue was up 93.3% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is currently 67.65%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. Wedbush reissued an "outperform" rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. BNP Paribas cut shares of Micron Technology from an "outperform" rating to an "underperform" rating and reduced their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Stifel Nicolaus decreased their price target on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, September 19th. Finally, Bank of America upped their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.04.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.